Elysium went live yesterday. KNTQ is down 22% in 24 hours.
I'm reading this as a launch-day autopsy, not a verdict yet. Kinetiq's Hyperliquid L2 went live November 9 — chain 99901, pump.fun and fomo live at launch, Uniswap live. The tape: down 14.9% on launch day, another 5% the next day, and now $0.31 — down 36% on the week, 48% below the October 30 high of $0.596.
The gap is timing. The buyback engines everyone quoted — 50% of sequencer revenue, Oku's 40% of fees, Banana Gun's 40% — only buy when fees exist. The flagship feature, contracts reading HyperCore order books, doesn't arrive for about four weeks. A launch with the engine still in the garage.
Support $0.30, then the air below it. Resistance $0.40, then $0.47. A daily close under $0.30 breaks the launch-week base; above $0.40, the dump stalls. One more clock: a ~4% supply unlock lands November 27.
How much Elysium fee volume would it take for the buyback engine to matter — and is anyone counting yet?
NFA, DYOR.
$KNTQ #Hyperliquid #Kinetiq #Elysium
I'm reading this as a launch-day autopsy, not a verdict yet. Kinetiq's Hyperliquid L2 went live November 9 — chain 99901, pump.fun and fomo live at launch, Uniswap live. The tape: down 14.9% on launch day, another 5% the next day, and now $0.31 — down 36% on the week, 48% below the October 30 high of $0.596.
The gap is timing. The buyback engines everyone quoted — 50% of sequencer revenue, Oku's 40% of fees, Banana Gun's 40% — only buy when fees exist. The flagship feature, contracts reading HyperCore order books, doesn't arrive for about four weeks. A launch with the engine still in the garage.
Support $0.30, then the air below it. Resistance $0.40, then $0.47. A daily close under $0.30 breaks the launch-week base; above $0.40, the dump stalls. One more clock: a ~4% supply unlock lands November 27.
How much Elysium fee volume would it take for the buyback engine to matter — and is anyone counting yet?
NFA, DYOR.
$KNTQ #Hyperliquid #Kinetiq #Elysium
